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Barbados Prime Minister Mia Mottley Knows How To Win Friends And Influence People

Less developed countries will be able to pause their debt repayments if hit by a climate disaster, under plans announced by the World Bank at the climate financing summit in Paris.

Today’s announcement is a win for a campaign led by Barbados Prime Minister Mia Mottley.

In an address at the UN last year, she had urged world leaders to “use the power of the pen” and impose natural disaster and pandemic clauses in developing countries’ debt, as well as remove the current barriers to accessing financial assistance from multilateral development banks.

World Bank president Ajay Banga says the international development organization will insert new clauses in any agreements with developing countries, allowing them to suspend debt payments in the case of extreme weather events, starting with some of the poorest and most vulnerable nations.

The UK also said it would apply similar arrangements to its loans to 12 countries in Africa and the Caribbean.

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Readers Bureau, Contributor

 Edited by Jesus Chan

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